Another rise in multifactor productivity
April 11, 2001
Multifactor productivity—measured as output per unit of combined labor and capital inputs—rose by 0.6 percent in the private nonfarm business sector in 1999. This was the eighth consecutive year of growth, but the lowest increase since 1995.
The multifactor productivity gain in 1999 reflected a 4.7-percent increase in output and a 4.1-percent increase in the combined inputs of capital and labor.
In 1999, capital services grew by 6.6 percent, while labor input grew by 2.9 percent. Capital services showed the steepest gain since the series started in 1948.
Multifactor productivity is designed to measure the joint influences on economic growth of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors. Multifactor productivity, therefore, differs from the labor productivity (output per hour) measures that are published quarterly by BLS since it requires information on capital services and other data that are not available on a quarterly basis.
These data are a product of the BLS Multifactor Productivity program. Data are subject to revision. Additional information is available in "Multifactor Productivity Trends, 1999" news release USDL 01-82.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Another rise in multifactor productivity on the Internet at http://www.bls.gov/opub/ted/2001/apr/wk2/art03.htm (visited December 18, 2014).
Three recent editions of Spotlight on Statistics
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.
BLS Statistics by Occupation provides an overview of occupational employment and wages with an emphasis on STEM jobs and occupational data by typical entry-level education required.